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Pakistan repays $1bn sukuk before maturity to avert default risk

ISLAMABAD: Pakistan has successfully made a repayment of $1 billion international Sukuk (Islamic bonds) on Dec 2, three days before its due date of...

Rs200 billion Sukuk ‘landmark financial innovation’: PM Imran

'Landmark financial innovation with Rs 200 bn Sukuk issued through competitive book building at PSX'

Abdul Hafeez Shaikh says govt raised Rs200b through Sukuk

 The adviser lauded the excellent team effort of Ministry of Finance Debt Office, Securities and Exchange Commission of Pakistan, State Bank of Pakistan and Pakistan Stock Exchange.

Federal govt issues Sukuk worth Rs200 billion for power sector

The public sector entity owned by the Ministry of Energy issued Sukuk worth Rs200 billion through PSX to address liquidity constraints being faced by the power sector.

Pakistan invites proposals to float Sukuk, Eurobonds

The finance ministry has invited financial institutions to submit their proposals to work as financial advisers, for the registration, structuring, and execution of the programme.

Saudi issues new Islamic sukuk to finance budget

Saudi Arabia said it has completed the issuance of a new Islamic sukuk sale to help finance its budget deficit as the kingdom accelerates borrowing despite rising oil prices.

Pakistan successfully issued US$1bn sukuk at 5.5% rate: Dar

ISLAMABAD: Finance Minister Senator Mohammad Ishaq Dar on Thursday expressed satisfaction that Pakistan successfully issued US$ 1 billion sukuk on Wednesday night at a historic...

Government launches $500 million in Islamic bonds

KARACHI: Government is set to launch $500 million in Islamic bonds to raise money for country's foreign exchange reserves, a senior official said Wednesday.

Pakistan grants tax neutrality for sukuk deals

ISLAMABAD: Pakistan's Federal Board of Revenue has granted sukuk transactions similar tax treatment to conventional bonds, the latest government incentive aimed at developing the country's Islamic finance sector.

Govt determined to support capital and Sukuk market: Dar

ISLAMABAD: Finance Minister Ishaq Dar said the government was determined to promote capital and Sukuk market and will support mercantile exchange for country's economic development.

APICORP launches $3bn Islamic sukuk programme

RIYADH: The Arab Petroleum Investments Corporation (APICORP) said Monday it has established a $3-billion Islamic sukuk programme to diversify its sources of funding and enhance links to global investors.

K-electric sells country’s largest corporate sukuk

KARACHI: Karachi-based utility K-Electric has sold 22 billion rupee ($215.9 million) worth of seven-year Islamic bonds, the largest listed corporate sukuk in the country, the firm said in a bourse filing.

IDB puts Islamic finance on AIIB drawing board

SARAJEVO: The Islamic Development Bank (IDB) is in discussions with Chinese officials to study the use of Islamic financing in the planned Asian Infrastructure Investment Bank (AIIB), the head of the Jeddah-based multilateral lender told Reuters.

G20 sets sights on sukuk for infrastructure financing

ANKARA: The G20 group of major nations has included discussion of Islamic bonds as an infrastructure financing tool in its annual agenda, a move that could potentially spur the use of project-based sukuk.

Al Baraka Bank plans subordinated sukuk in Jordan

MANAMA: Bahrain-based Al Baraka Banking Group is planning on issuing its first Islamic bonds, or sukuk, for its Jordanian unit later this year, chief executive Adnan Ahmed Yousif told Reuters.

Pakistan issues sukuk rules as corporate issuance revives

ISLAMABAD: Pakistan's capital market regulator has published long-awaited rules for the issuance of sukuk, or Islamic bonds, as part of efforts to strengthen governance and broaden their appeal to investors.

K-electric eyes 7-year tenor for largest corporate sukuk

KARACHI: K-Electric will test a seven year tenor for its latest Islamic bond, a 22 billion rupee ($217 million) transaction that would be Pakistan's largest corporate sukuk to date.

Bank Islami plans capital-boosting sukuk

ISLAMABAD: Bank Islami Pakistan, the country's second largest full-fledged Islamic bank, plans to raise 3.5 billion rupees ($34.8 million) via subordinated sukuk, a bank official said.

Mobilink tests credit guarantee for sukuk

ISLAMABAD: Mobilink - the country's largest telecommunications operator, plans to raise 6.9 billion rupees ($68.6 million) via Islamic bonds this quarter, Pakistan Credit Rating Agency said in a statement.

After Western sukuk debuts, Islamic finance looks to emerging sovereigns

LONDON: This year's rush by top-rated non-Muslim countries to tap the burgeoning Islamic finance market may not be repeated next year but a new crop of sovereign entrants, mostly from emerging markets, is waiting around the corner.
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